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tv   Cavuto  FOX Business  January 2, 2014 11:00pm-12:01am EST

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♪ ♪ >> what is happening in new york? lookout. because the new mayor has a war on the ridge that could go national. welcome, everyone, i am melissa francis in for neil cavuto. bill de blasio laying out his agenda yesterday. >> those would see their taxes increase by an average of $973 per year. and that is less than $3 per day.
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about the cot of a small lot today at your local starbucks. melissa: liberals everywhere are looking to spread the new mayor's messe. they want to join bill de blasio and tax the rich and redistribute elwell. sabrina schaeffer ss this that could makethe economy even worse. let's start with you. why do you think that? >> is funny. it's a new year and i want to try to be optimistic. melissa: good for you. >> but i don't want to be resentful to myneighbors might make more money. i'm ted of the class warfare. i want to see growth for all americans and that is something that seems to be eluding bill de blasio and many other democrats. >> it is definitely eluding our new mayor and it seems like others are embracing it. do you think it isspreading? >> i don't think it is, but the idea has be around forever. whenever things e bad, you are
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going against the big ceo guy. because nobody can defend that guy. and we would make the income ineqlity smaller, not by making the poor up, by redistributing wealth. it s exactly what hollen is trying to do in france. it has not been working ut. melissa: when you listen to the rhetoric, that story didn't turn out well and everyone knows it. the city was riddled with crime and it was filthy andmakeup ace to do business and people were fleei. but it seems like people -- they forget that or do they think there's something different about this message now matt. >> i am a product of the family the left new york in the 1970s to come to california. to get out of things that were so bad.
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look how wonderful your kids. you can alk sfely in central park and it's a great thing. unfortunately, people seem to have forgotten that and they think that the quick fix could be sufficiently noticed not. melissa: it started with him as we have seen that for years and obviously, i mean, this is a lidation of his policy. they are saying the same thing, only even more intensely and he was after all elected. so that doe make me think that it's catching. >> i am not sure about that. i hope that that is wrong. look at the way this worked out with him not getting elected. so bill de blasio was never really vetted. and he has been going after bloomberg and i'm not sure that's very smart we have the lowest problem of any major city i the world
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right now. he he's talking about reversing some of tse policies. he has an uphill battle ahead of him because the city is doing quite well right now. the only thing that he can think of is income inequality. and i'm just not sre about that. melissa: how do you convince people that redistributing weah is in a good thing if you are at the bottom? i know it's a tough economy out there and easy to look at the other guy and say, why isn't he still doing well. the high-end real estate in new york is doing so well. so why don't yo look at that and say give that poor people. >> we all want to do what we can to ease the burdens of people. but the failure of the obamaca rollout is reminding so many more americans that when government promises things for free, it is not quite the case. but this money just doesn't come out of thin air. iscomes out of the econmy. and this money has to come from somewhere and so this is not the
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most efficient or effective route to prosperity. melissa: thank you both for coming on. >> thank you. >> so making some controversial comments. >> we emancipate every new yorker from the shadows of fear. that new york city is the city of god and a city set upon a hill. melissa: can you imagine a a partiers thing that? calling the orchid plantation? they would be labeled racist and crazy and dangerous. my nex guest says that there is a double standard out there. former house majority leader dick armey joins me now. would you think of that? >> it is kind of nonsense that you g from the left. left-wingers are a little bit dimwitted to begin with. but the fact of the matter is that any white conservative is that sh a thing would be
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called an insensitive racist. at they can to let on the left is a serious scholarship by peoe like thomas sole, for instance, who have said for years that the re-creation of the plantation is done by the progressives of the people who who put dozen government-run housing, control the behavior, control their vote, taking the terms of their life in dictating them. because people are part of this with other black scholars, they can call and arrange this and call him a racist and they have no way of coping with them. so they just ignore him on the basis that it's alws better to be persecutedeen ignored. and ignore those people with serious scholarship to make a better argument that read the servitude circumstances of hi characteristic of this.
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and i will guarant you that no one person other than a liberal could spout such nonsense. melissa: the language is so charged it can never get away. it w very surprising. even more shocking to me was the fact that the sanitation department has a chaplain. what is up for? do they pray for us to compost more? i don't rely get that. is the garbage last? that was what was so hoifying to me. am i paying for that? >> well, it breaks your heart. because new york is such a wonderful city. my wife and love our time together. what the progressives will do is make it a second-re city, just as clinton or obama has taken the first best health care system in the world and is making it second-grade health care. and th liberals just don't
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care. as long as in their mind, everyone gets an equal share of ashrunken pie. and so i just -- i'm sorry. but they are so dimwitted. it is just so crazy. >> do you think that they will think that this will turn out different? we had a grea little while, especially from very liberal policies. it's sort of an amnesia. we think this time it will be diferent? they are like well, the family will do a better job. so what is the thinking behind this? >> well, first of all ther is nothing so arrogantly self-righteous income is tributary and they always know those peopl that went before me and botched the job with the schemes have just not been aggressive enough.
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they always have a solution and there is nothing so dangerous as being so stupid that you can understand how supid youreally are. and that is just characteristic of her liberalism in america today. >> i uess i will hve to go to texas or florida. melissa: thank you so much. it is a pleasure. heth care costs aren't the only thing in your wallet and 2014. get ready to pay 55 new taxes that you didn't pay last year. and what might break your bank. we will have th [ male announcer ] nearly 7 million clients. how did edward jones get so big? t me just put this away. ♪ could you teach our kids that trick?
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[ male announcer ] by not acting that way. it's how edward jones makes sense of investing.
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melissa: with the new year, comes 55 new taxes and that is the number of tax breaks expire at the end of 2013 and it is fecting everyone from electric car buyers to restaurant owners and even teachers that will no longer get a tax break. over to dan mitchell to spell it ou for us. is that right? >> that is correct. by the way, keep in mind that there are some also obamacare
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tax increases that needed to be added to the max. mix. that's the good news is that in all kelihood, these expiring taxes are sometimes called the standards inside the beltway. they are probably going to be reenacted at some pnt this year and made retroactive to january 1. knock on what, if you're one of the people that might get hit by higher taxes. maybe you will get a reprieve for another 12 months. melissa: tere is a tax break for electric car owners, that is benefiting you. so if someone disappears, do you think it is coming back? i'm not sure tha we need that one. >> these tend to be an all or nothing proposition and you have all of these tax breaks mix it together. all of the different intest groups. and let's link arms and pass it. and there is a policy. bad tax gimcks are in there, special loopholes for electric cars. and then there are some good
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provisions as well that reduce the double taxation of government imposes. so you have to take the good with the bat on this. in the process client is what she did all of us up and going together. and this is a windfall for the lobbyists and politicians. they did go out to all of these different areas, we will work the halls of congress for you and meanwhile the politicians are just tting there with their hands out, with all of these interest groups. so the average tax payer, they are the ones that get stuck with this. melissa: this is why try to stay as far away from washington as possible. you talk about teachers deducti the supplies that they buyout of their own pocket. but how many elementary school teachers itemizes anyway? >> only about one third of all taxpayers itemize and they tend to be upper income tax payers.
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public school teachers in a lot of places earn a lot of money. and especially if two of them are married to each other. in all likelihood they will be in the top 5% of the income distribution in the country so they might actually be itemizing. especially with his expens they incur themselves. melissa: this will shock you but to me this calls for simple tax code in a and smaller governnt. all of this is about the hubbub that we don't need in the lobbyg and campaigning in a tax code that is moving back on these points. it is nonsense. >> every time i see a story like that, it just makes me long for the hong kong tax system. more than 60 years they have had a flat tax in their entire code was something like 147 pages. that's compared to the 76,000 page monstrosity that we get. complicated, unfair, politician
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and lobbyist and iternal revenue code that we have. melissa: okay great. let's do ii. what to do it right now. have a good one. and chrysler is now an italian auto company. but wasn't the bailout starting to save the american auto industry? the great italian auto bailout courtesy of you. that is comi up next ♪ [ male announr ] this is the story of the lile room over the pizza place at 315 cnut street. the modest first floor bedroom in talln, tonia and the dusty basement at 1406 35th street. it is the story of the old dining room table t 25th and hoffman avenue. the southbound bus barreling down i-95. ...and the second floor above the strip mall at roble and el camino.
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♪ this magic moment it is the story of where every gre idea begins. ♪ so different and so new where those with endless vision and an equal amount oaudaciousness believed they had the power to do more. time and time again. ♪ and then, it happene at dell, we're honored to be part ofome of the world's great stories. stories that began much the same way ours did. in a lite dorm room -- # 2713. ♪ this magic moment ♪
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>> today i am pleased to announce that chrysler and fiat have formed a partnership that
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have a strong chance of success and we will not only see our american auto industry rise again, but we will see our economy be rebuilt and make the 21st century another american century. melissa: and italian job on u.s. tax payers. fiat buying out chrysler. makin chrysler italian owned. the deal is coming for .5 years after president obama brought in fiat to save amican jobs. our guess that this is his is what happens when governmen wheels and deals. >> who would've thought. melissa: it blows me away about this. their sales have slipped the lowest in two decades. propping them up. the map why do that. why do that with a failing company. look what the obama administration dead.
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>> and you know, the taxpayer basically gave the italians their company and we get nothing. melissa: they say that they get credit and error all these new models that came out and this is why chrysler is up and running. then give us $3 billion that we lost in the bailout. >> it's actually more. and i would agree with you here. melissa: oh,y goodness. [laughter] >> i'm continuing to support the bailout. and chrysler was not able to get financing of the time. so i like the blout. here's what i don't like. >> it's chrysler. in that taxpayer dollars are going die.
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>>nd it's going to be chinese jobs that it's creating. and so there is a good reason to comply. but where i do agree is where the bailout wasn't structured in a way where the payback was required. and that this would be a dea. and for .4 billion went to uaw pension fund. so all of that, it's not necessarily bad. but what is bad is that it should have been structured in a way that had to happen for us. and we had folks in charge that knew about finance. and you would think that it's about the government not knowing how to structure the deal is. but he really is just a politician and a washington guy. >> we look for him in august.
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there are many who would argue that their elements that are questionable. this is not the right type of structure. and i know that you know that. >> there was no financing available at that time. so however, what you really need to be looking at wa widened a construct these deals in a way are weecame secured creditors and we had to be paid back first. >> it wasn't just us, but there wereondholders as wel. and why is it so important. we have plenty of other car companies as well that are doing now.
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>> you even made that point. and they have that piece of money that should have gone back to the taxpers. but let's forget about the bondholders. it lost all the money but the unions make out like a bandit. >> with the monies will do -- it's not like anythhng will go into their pockets, but you do have a legitimate idea about this. >> mean, how do you feel about ts? >> that is going to last like an hour. >> can i ask you about this.
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>> american-made ford. i'm very proud of that. melissa: new year and new health care problems. >> we will have it next welcome back. how is everything?
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melissa: israel. obamacare is here and the numbers are all too real. more than 6 million amerans have been left without health coverage. just over 2 million obamacare sign-ups. bill, what do you think these numbers? >> they have a concern for the people that had coverage and then lost it. we have some of those people here in pennsylvania and we had some at high mark. we extend the coverage for that group of people for another six months. and then we are enrolling new enrollees into the plan as well. those that had been having this go slowly in october and november. and we are pleased that enrollment has picked up the. meliss is a because people are realizing that they have to do
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something? why do yo think that number is moving up? >> it is all of the above and it'sreaching out, trying to let people know that they have this coverage option available to them. these options available. and so we are interested to get these people enrolled and to reach out to them. in some cases people that had no coverage before. but we are trying to enroll them. melissa: when you save your reaching out to tem, what do you say to hem? and a lot of people that i talk to, i talk to them over the holidays and received a letter saying that their indivl insurance plan had been canceled. watching the media and everything else, their impression is that their only option is to go to the obamacare website. what you tell them? >> that is not the case. they have had the option in most states here in pennsylvania as an example to continue on their
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curre coverage plan for ather. matter of time. up to a year in some cases. so we did that in conjunctn with and also with approval of the insurance department. there were political decisions that were made not to continue people on their coverage. so my judgment is making it difficult for people in the states who might not haveeen able to get onto the obamacare exchange. melissa: that the two options are part of this. you can go to a private insurance exchange and we have enrolled people like that. we call that part of the exchange and woman and we have enrolled a fair number of people in those situations as well. melissa: how do you find a
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private insurance they know who high mark is, they know less, and we have made that with advertising. >> so how would that be different if they went to the obamacare website. >> you work with thefamily members that are trying to ge coverage and so.
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>> of you don't qualify for the subsidy, you are the ceo of an insurance company. is it cheaper to get the plan on the obamacare website if you don't qualify or go directly to the insurance company? >> well, that is a case-by-case type of scenio. and i don't know that i can give you a great answer to that. >> it probably makes sense for people for shoppers to go out there and ompare because of a lot of money and a big decision if you don't quafy for the subsidies come you might want to do yourur own insurance. we started this segment talking about 4.7 million americans that have been canceled and only 2 million have been find out. we are not positive on people that have health insurance. and the promises that more people would have insurance at the end of the day in many have fewer insurance and when we see
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that problem? >> that's a great question. in our case, we are not positive right now. and we have made theother efforts and that is not the case. and it won't be the case probay will be several more months. and we have to see what this is in january or februy. it was a big rush leading up to e holidays. that is when they peaked and now it has dropped off a bit and we will just have to see how this goes. and my greatest concern for all of us is a mixed of the population and whether wesee an older or sicker group and not enough younger people and that is an issue that we will keep our eyes upon. and i think everyone needs to pay close attention to it.
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melissa: abolutely. what can you tel? >> that is not surprising that we have to follow that. melissa: we are out of time, but thank you so much. all of this snow is still cries over global warming. that is the debate heating up? but it's game er and you los ♪ [ male announr ] this is the story of the lile room ovr the pizza place at 315 cnut street. the modest first floor bedroom in talln, tonia and the dusty basement at 1406 35th street. it is the story of the d dining room table at 25th and hoffman avenue. the southbound bus barreling down i-95. ...and the second floor above the strip mall at roble and el camino. ♪ this magic moment it is the sry of where every gre idea begins.
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♪ so different and so new where those with endless vision and an equal amount oaudaciousness believed they had the power to do more. time and time again. ♪ and then, it happene at dell, we're honored to be part of some of the world's great stories. stories that began in a lite dorm room -- # 2713. ♪ this magic moment ♪
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melissa: a massive storm is barely across the country. 100 milln people are in its way. even with this latt winter blast, laster had more record low temperatures and record highs. global warming alarmists say that climate change is a big problem and they need more money to fight it.
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our meteorologist says that could be a waste of money. so what is the science that tells you that we have a lot of climate change. they had to change the name because it's been so cold outside. global our climate change. they had to change the name from global wming. what makes a real? >> you go back and you look at the natural typical process. far worse of the 1930s and 1940s and 1950s. we had a major hurricanes in seven years in the 1950s. but the fact is that there were major hurricanes. and people assume that no one knows what happened befre. because we can see all of these events, they are using that in the disingenuous way.
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and we are using this to help forecast the weather in my job and i have to produce. and you see this stuff and you roll your eyes. it would be a joke if it wasn't costing our nation. so much as far as jobs and people go. and it is astoundg what is going on. >> willthe who says that he clie chge over? anyone who says that it's not real isan idiot and they throw their arms in a sort of say that no one disagrees with them. and as an individualist and some in the church of go, i'm not out to become part of a social
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club wanted to hang out with this guy or that g. no one would want to hang out with me anyway. and what you do is pursue this correct answer. if you are not bright enoogh to bring the value, you get fired. saying whether or not we believe that this is going to be a harsh winter that will ke your pocket. so how dide come up with that? well, what we do is we are not virtual meteorologist. we also study what happened before. and i could never figure out what the heck was going on because there was a la niña and
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there should've been a bigger hurricane. and look at this here, we had a non-hurricane season. itis fascinating to see what is transpiring as far as the winter goes. and who would go back and look at this to try to help with a forecast. over two weeks ago. my clients have said, look out, this looks like a outbreak of january of 1994, 25 below zero, now you see his forecast. melissa: you are a weather nerd andthat is why i love you. [laughter] >> looking at those books, that is why you get it right. >> i am a geek, i will tell you that right now. >> nky so much. so great. shaping up to be a great year. not only can you get high in colorado, but in florida as
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[ telephone rings ] [ shirley ] edward jones. [ male annncer ] with nearly 7 million investors... oh hey, neill, how are you? [ male announcer'd expect us to have a highly skilled call center. kevin, neill holley's on line one. ok, great. [ male announcer ] and we do. it's how edward jones makes sense of investing.
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melissa: get high an still get handouts? a federal judge striking down a florida law that requires applicants t get drug tested. the judge saying that drug use isn't a problem for those folks testing for drugs is unconstitutional. her attorney says the state has every right to drug test. but courtney says that the judge did the right thing striking down the law. >> wll, there are so many people nowadays that need money because they have lost their homes and they have lost their jobs and they ha lost their savings because of the real estate rket on wall street. cooks the duties ponzi schemes
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and people need money. melissa: kelly, does that make sense? >> no, that is the issue tt i have with this. and we are not entitled. you should have toprove that you are a law-abiding citizen comment is that you have followed the law to be able to drive. and if you have a job, you can talk about this. even random testing in exchange for benefits. it seems perfectly legal to me and i don't think it is an invasion of rights and i think that these people should be law-abiding. so where's the evidence that these people are going to be part of this? >> and if there is no evidence ith unreasonable search and seizure. you're wanting me to disprove something you don't think should happen in the first place. thebottom line is in order to receive benefits, they don't have to do anything then fill out paperwork. so why is drug testing on a
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mandate? why are we forcing people to try to get better and become educated and do things? >> okay, if you have compassion and want to help them get back on their feet and fi a job, doesn't it make sense to you then to take a drug test and it's likely that they will be able to better their life. >> yes, i agree with you. people say this is an invasion of privacy and they are thinking about themselves. and they are not looking at an overall system of reform. and that is not the issue. we are asking people to become productive members of society. melissa: if we are trying to help these people have a better life, then why does not make sensehat we want to make sure that they are not using drugs before they come to their welfare check to go out and prove their lives? >> is a great question.
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and let's talk to the guys o wall street. they are not ing at. so why should these folks get the state aid. why should they have to subject themselves to a lawful search and seizure when there is no evidence of drug diction in a particular community with those recipients. and so we ae not going to do it for everyone, there's a lot of people on wall stet are woen passes testingeither. >> folks on wall street are getting welfare checks. what is th connection they are trying to make? >> as a country we have built a wall stree on the biggest class or financial situation. >> we were just talk about that in last segment. every worker that was bailed out for ford and gm, do you want them to get a drug test on the wayand? and isn't that your point?
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>> yes, because they are dealing with heavy equipme andbecause it's dangerous and they have to be drug tested so people don't get hurt. so she wants to mke that point, why is it that people can receive a check and not forthe better themselves and nontrade to be drug tested. melissa: kelly, you are losing, so take the last word. [laughter] >> i don't understand that the judge found that there was no peasive evidence that there was no problem with drugs soon find out how investigators can cash in.
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♪ [ male announr ] ths is the story of the lile room over the pizza place at 315 cnut street. the modest first floor bedroom in talln, tonia and the dusty basement at 1406 35th street. it is the story of the old dining room table at 25th and hoffman avenue. the southbound bus barreling down i-95. ...and the second floor above the strip mall at roble and el camino. ♪ this magic moment it is the story of where every gre idea begins. ♪ so different and so new where those with endless vision ndn equal amount oaudaciousness believed they had the power to do more. time and time again. ♪ and then, it happene at dell, we're honored to be part of some of the world's great stories. stories that began much the same way ours did. a lite dorm room -- # 2713. ♪ this magic moment ♪
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melissa: wh says that netflix is for couch potatoes. netflix makes perfect sese. over to laurie walkman on its netflix if netflix in the gym would make it even better. what do you think? >> it is facing aurvey on people's habits. who is goin to sit on a treadmill orlliptical an elliptical or whatever for eight hours watching this program? >> i don't know. in the meantime i actually think
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that we have an in-house survey. so it makes sense. and that is what we have been telling you. it's perfect, it's the best out there. >> so mayb they are fantasizing that maybe they reallwere then. so a lot of experts also say the one of the main benefits is to focus on what you are doing. so it's probably counterproductive. >> i don't know, that's asking a lot. they are saying you have to exercise and focus on it at the same time. and we had to say on this is if i have something entertaining. >> netflix is an investment opportunity.
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and there's a lot of people that are on board with this. melissa: day one of legalized pot sales. what a shocker. how can investors cash in? may be taken by the texaco ock. >> that makes a lot of sense. >> they have problem with pricing and inventory.
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>> don't look at me, i think i'm asking you specifically, i thoug this was your specialty. >> you know, if you want to make money, check this out. an it's going for such a premium. and the demand is certainly outstripping this. here is my take. and it is owned by this individual. >> i am not making a statement, it's a connection tthe culture and a lot of people are taking thelead. >> they are al involved in mass, you don't want to relax it seems. but you're nervous. melissa: you're really telling us a lot about yourself. and the surfers like the weed as well.
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right? [laughter] >> it's a good point. the. melissa: worry, we'll be tching? >> you know where investors sold to offset the gains from last year. and everybody is putting their money back into the u.s. stock market. and obviously the economy is on the right track as well. good data indicators. so the tocks do really well in this environment. and that is what i'm keeping my eye on. >> you know, i am watching this over the next two days. and i think that people are not necessarily complacent with the market, but complacent with his tapering. and i don't think it's going to be a fluk. the. lissa: now i feel that everyone has gotten something
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out of noing. >> that is a the problem. they are taking away 75 billion and everyonn is saying that it's not a big deal. but it is a big deal. he put that money in and you help the economy and the market and now you're taking it ou. thus bring volatility back into the market. melissa: doesn't have a impact on the market? i think it's priced in large way. we are seeing interest rates come up a little bit. i think we are in a nice place and it suld be a good fourth quarter. >> there's no doubt about it. so the small captcha code unless the market was god. so i think buying the spin selling is this part of it.
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the. melissa: thank you both so much. you can catch me everyday every day at 5:00 p.m. eastern right here on fox business. money with melissa francis is my show. in the meante, have a greatlves. constitucy booby stars. [laughter] >>. >> to be a service to our president. >> they are eager to support their president how. >> they had no where to return until he rived. >> don't how how. >> is specially the egalitarian system, not to stop the violence.


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